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China's Market Prices Recover Moderately
Commodity prices in the Chinese market have reversed their prolonged downturn trend and experienced moderate recovery in the first four months of this year, official sources said.
Qiu Xiaohua, deputy director of the National Bureau of Statistics, said at a press conference on June 2 that the wholesale prices for industrial products and purchasing prices for energy and raw materials have bottomed out, rising 1.4 percent and 3.9 percent, respectively, in the first four months compared with the same period last year.
He attributed the price recovery to the influence of oil price hikes in the international market and the rising of domestic demand.
Although the prices for consumer goods in general are still falling, the falling speed has been slowed, he said, adding that in the first four months the overall level of consumer prices equaled that of the same period last year.
Nearly half of the country's major cities have seen price recovery in the first four months, he said.
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